Newport Trust Co. Divests General Dynamics Stake

TL;DR

**Newport Trust just dumped all its GD shares.**

AI Summary

Newport Trust Company, LLC, a New Hampshire-based entity, filed an amended SC 13G/A on February 5, 2024, indicating a change in their beneficial ownership of General Dynamics Corporation (GD) common stock as of December 31, 2023. The filing shows they now hold 0 shares with sole voting power and 0 shares with shared voting power, a significant reduction from previous filings. This matters to investors because it signals a complete divestment or a substantial reduction in Newport Trust's stake, potentially removing a large institutional holder from the shareholder base.

Why It Matters

This filing indicates a major institutional investor, Newport Trust Company, LLC, has reduced its stake in General Dynamics to zero, which could signal a change in their investment strategy or outlook on the company.

Risk Assessment

Risk Level: low — While a large institutional divestment can be a yellow flag, this filing alone doesn't indicate a fundamental problem with General Dynamics, as the reasons for the divestment are not disclosed.

Analyst Insight

An investor should monitor subsequent institutional filings (13F reports) to see if other large holders are also adjusting their positions in General Dynamics, and research any news or company developments around the December 31, 2023, date that might explain this divestment.

Key Numbers

• 0 — Sole Voting Power Shares (Newport Trust Company, LLC's current sole voting power in General Dynamics)
• 0 — Shared Voting Power Shares (Newport Trust Company, LLC's current shared voting power in General Dynamics)
• 369550108 — CUSIP Number (identifies General Dynamics Corporation Common Stock)

Key Players & Entities

• Newport Trust Company, LLC (company) — the reporting person that filed the SC 13G/A
• General Dynamics Corporation (company) — the issuer of the securities
• New Hampshire (company) — place of organization for Newport Trust Company, LLC
• December 31, 2023 (date) — date of event requiring the filing
• February 5, 2024 (date) — date the SC 13G/A was filed

Forward-Looking Statements

• Other institutional investors may review their positions in General Dynamics following this significant divestment by Newport Trust Company, LLC. (General Dynamics Corporation) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $1.00 — tion (Name of Issuer) Common Stock, $1.00 Par Value Per Share (Title of Class o

Filing Documents

• newporttrust-gd123123a6.htm (SC 13G/A) — 52KB
• 0001172661-24-000454.txt ( ) — 53KB

(a)Name of Issuer

Item 1. (a)Name of Issuer General Dynamics Corporation (b)Address of Issuer’s Principal Executive Offices 11011 Sunset Hills Road Reston, Virginia 20190

(a)Name of Person Filing

Item 2. (a)Name of Person Filing Newport Trust Company, LLC (b)Address of Principal Business Office, or, if none, Residence 1627 Eye Street, NW, Suite 950 Washington, DC 20006 (c)Citizenship Please refer to Item 4 on each cover sheet for each filing person (d)Title of Class of Securities Common Stock, $1.00 Par Value Per Share (e) CUSIP No.: 369550108 CUSIP No. 369550108 SCHEDULE 13G/A Page 4 of 6 Pages

If

Item 3.If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) x Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) o An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: CUSIP No. 369550108 SCHEDULE 13G/A Page 5 of 6 Pages Item 4.Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. Newport Trust Company, LLC is a beneficial owner of the securities referenced herein in its capacity as independent fiduciary and investment manager for the assets of the General Dynamics Stock Fund under the General Dynamics Corporation 401(k) Plan Master Trust. (a) Amount beneficially owned: 15,872,805 (b) Percent of class: 5.82% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 15,872,805 (iii

View Full Filing

View this SC 13G/A filing on SEC EDGAR